To: levy who wrote (16146 ) 1/18/2000 5:22:00 PM From: Susan G Respond to of 28311
Go2Net CEO says bigger acquisitions ahead SEATTLE, Jan 18 (Reuters) - Go2Net Inc. will grow rapidly in the months ahead through a steady program of acquisitions and new hiring, the Internet portal company's Chief Executive Russell Horowitz told Reuters. "We are not going to be gun-shy about the profile of acquisitions," Horowitz said, noting that future deals could exceed Go2Net's previous largest buy -- a $90.5 million deal for payment authorization service Authorize.net last July. The rapidly growing Seattle-based company has added about 100 new employees in the last three months, bringing its total payroll to 360, and will maintain that pace in the months ahead, Horowitz said. "We anticipate hiring 100 more in the next three months, but we won't necessarily maintain that pace indefinitely," Horowitz said. Go2Net on Tuesday reported first quarter pro forma net earnings of $7.2 million, or 16 cents a share, beating analysts' forecasts for a 7-cents-per-share gain and a small net loss of $21,560 a year earlier. The company also reported $14 million in revenues for the quarter, up 439 percent from a year ago. Go2Net last month struck a deal with Hasbro Inc. to bring its games, including Monopoly, Clue and Battleship to the Web site games.com . Go2Net has made dozens of smaller acquisitions to beef up its online offerings including consumer and business services, search engines, online investment services and e-commerce solutions. Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. GO2NET INC - GNET Price 92 Net Change +3 13/16 Volume (000) 853 Day High 94 Day Low 87 7/8 HASBRO INC - HAS Price 16 3/8 Net Change -1/8 Volume (000) 585 Day High 16 3/4 Day Low 16 5/16 as of 01/18/00 17:16 PM EST